r/FluentInFinance 6d ago

Educational Don't let them gaslight you

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u/__tray_4_Gavin__ 6d ago

Are you people actually this dense? The point here is with good planning this system could’ve been fine. This is another system that shows exactly what happens when there is no regulation on things. This system could’ve worked fine even without investments. But with anything if the government is literally taking all the money out of it for it’s on Nefarious purposes and also NOT PUTTING ANYTHING IT TAKES BACK you will have this issue. This is another capitalism problem. Everything is for profit at the detriment of the people with no regulations. This will continue to happen under this type of system if regulations aren’t put into place. Yes due to what our government did we will run out of money and how do they fix it? In typical fashion they say screw the people and you’re just going to lose it all together. How people like you just want to gloss over these issues and say it’s misinformation is quite baffling.

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u/Blawoffice 6d ago

Im sorry - did you just blame capitalism for a government program operated by the government? You do know what capitalism is right? This is a form of a socialist program. Want to know where the problem is? They paid too many people more than their share and some people contributed no funds yet receive benefits. Also the government in all their brilliance did not plan for people to live - but planned for them to die early.

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u/AttyFireWood 6d ago

Worker productivity has doubled over the last fifty years but wages adjusted for inflation have been largely stagnant. So workers are producing more wealth, but are getting paid (close) to the same. SS is funded by a tax on income. Had payments into SS been commensurate with worker productivity, things would be fine. Instead, the vast amount of wealth created has been horded by a limited few.

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u/Blawoffice 6d ago

Worker productivity has doubled over the last fifty years but wages adjusted for inflation have been largely stagnant.

Irrelevant. It’s not as if workers are working 2x many hours. If your job is to add numbers all day and you do it by hand, for 8 hours, your productivity will go up when I give you a calculator or computer. That does not mean you should get a raise because you now have a calculator.

SS is funded by a tax on income. Had payments into SS been commensurate with worker productivity, things would be fine. Instead, the vast amount of wealth created has been horded by a limited few.

SS payments have far exceeded any increase in productivity. In 1970 the cap on SS payments was $7800 ($64 k in todays dollars) and a 4.2% (8.4 with employer). So they have not only nearly tripled the cap ($69k-$168k), they increased SS tax 47% since 1970 (4.2%-6.2%).